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๐—ช๐—ต๐˜† ๐—œ๐—ป๐˜๐—ฒ๐—ฟ๐—ฒ๐˜€๐˜ ๐—ฅ๐—ฎ๐˜๐—ฒ๐˜€ ๐—ฎ๐—ฟ๐—ฒ ๐—Ÿ๐—ผ๐˜„๐—ฒ๐—ฟ ๐˜๐—ต๐—ฎ๐—ป ๐— ๐—ถ๐—ด๐—ต๐˜ ๐—ฏ๐—ฒ ๐—˜๐˜…๐—ฝ๐—ฒ๐—ฐ๐˜๐—ฒ๐—ฑ

You might be surprised to learn that banks have not passed on all of the Reserve Bank's cash rate increases over the past year, due to competition pressures.
As this Reserve Bank chart shows:
* The Reserve Bank increased the cash rate by 400 basis points between April 2022 and June 2023, from 0.10% to 4.10%
* However, lenders increased their variable rates by an average of only 337 basis points
* That means average variable rates are 0.63 percentage points lower than might be expected
The reason banks have not raised rates by more is because of "strong competition in the mortgage market", according to the Reserve Bank.
Mortgage brokers play a central role in fostering this competition, by helping consumers compare loans from many different lenders.

Subiaco finance brokers are here to help

Interest rate rises are here, but you donโ€™t have to fear with the right broker on your side.

The team at Sonam Capital are here to empower you through financial knowledge.
Weโ€™ll take the time to get to know you and your unique situation and speak in a
language you can understand, with strategies you can implement for the best possible outcomes.

Nick, Wayne and Amanda at Sonam Capital are your Subiaco finance specialists.

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